Millennium Management LLC Grows Position in Lemonade, Inc. (NYSE:LMND)

Millennium Management LLC lifted its holdings in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 67.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,890 shares of the company's stock after purchasing an additional 37,398 shares during the quarter. Millennium Management LLC owned 0.13% of Lemonade worth $3,407,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in Lemonade during the fourth quarter valued at approximately $2,712,000. The Manufacturers Life Insurance Company increased its holdings in shares of Lemonade by 7.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock worth $1,137,000 after buying an additional 2,209 shares in the last quarter. Woodward Diversified Capital LLC acquired a new position in shares of Lemonade during the fourth quarter worth $381,000. Invesco Ltd. increased its holdings in shares of Lemonade by 14.0% during the fourth quarter. Invesco Ltd. now owns 76,718 shares of the company's stock worth $2,814,000 after buying an additional 9,419 shares in the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Lemonade during the fourth quarter worth $353,000. 80.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LMND has been the subject of several research analyst reports. Piper Sandler lowered their price target on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Keefe, Bruyette & Woods lowered their price target on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley downgraded shares of Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $28.17.

Insider Activity at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00. Following the transaction, the insider now owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 2,742,991 shares of company stock worth $87,349,818 over the last 90 days. 14.70% of the stock is owned by company insiders.

Lemonade Stock Up 2.1%

LMND traded up $0.75 on Wednesday, hitting $35.84. The company's stock had a trading volume of 1,947,776 shares, compared to its average volume of 1,971,094. The company's 50 day simple moving average is $30.03 and its 200-day simple moving average is $34.99. The firm has a market cap of $2.63 billion, a P/E ratio of -11.79 and a beta of 2.14. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. During the same quarter in the prior year, the company earned ($0.67) earnings per share. The company's revenue for the quarter was up 27.0% on a year-over-year basis. Equities analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Lemonade Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.